Mtandt Group Forecasts Growth in India’s Construction Equipment Sector

Rakesh Modi, Chairman, Mtandt Group

How do you look at the market for construction and mining equipment in India?

Looking at the current landscape of India’s construction and mining equipment market, we envision a trajectory of exponential growth, particularly within the construction sector, over the next decade. India’s delayed development has given us a unique opportunity to approach construction and mining with heightened responsibility, focusing on sustainability and environmental consciousness. Our commitment to constructing and mining in a greener, more sustainable manner aligns perfectly with the evolving ethos of the industry in India.

Which specific budget provisions do you believe will have a direct impact on the construction equipment manufacturing sector? 

While specific budget provisions undoubtedly shape the sector, it’s crucial to recognize that the growth of construction and mining is imperative, irrespective of government allocations. Our industry’s momentum is driven by the inherent infrastructure development and modernization demand, which transcends budgetary considerations.

From a long-term perspective, how do you foresee the budget influencing the growth and development of the construction equipment industry in India?

From a long-term perspective, the budget is one of many factors influencing the growth and development of the construction equipment industry in India. However, it’s essential to acknowledge that actual development stems from market demand and industry dynamics, with budgetary allocations serving as catalysts rather than sole determinants of growth.

Are there any specific policy measures or incentives mentioned in the budget that you believe will benefit the construction equipment manufacturing sector?

While specific policy measures and incentives outlined in the budget can undoubtedly bolster the construction equipment manufacturing sector, the overarching positive outlook and conducive regulatory environment are equally significant. A favourable business climate, coupled with proactive government initiatives, lays a solid foundation for sustained growth and innovation within the industry.

What specific measures or changes would you like to see from the government to further support and boost the construction equipment manufacturing sector?

Moving forward, we advocate for continued government support through strategic measures to foster innovation, skill development, and infrastructure enhancement. Investment in R&D, streamlined regulatory processes, and incentives for sustainable practices can further propel the growth trajectory of the construction equipment manufacturing sector.

What are the bottlenecks in the industry and how do you overcome those challenges?

Addressing the bottlenecks in our industry requires a multi-faceted approach encompassing technological innovation, skill development, and strategic partnerships. By leveraging cutting-edge technologies, investing in workforce training, and forging collaborative ventures, we can overcome challenges and unlock new opportunities for growth and advancement in the construction equipment sector.

As Chairman of Mtandt, I am confident that by embracing a proactive mindset, fostering collaboration, and staying attuned to market dynamics, we can navigate the evolving landscape of the construction equipment industry in India with resilience and success.